Hidroelectrica and STJ Advisors Group Limited signed the contract for the provision of consulting services for the “Equity Advisor” capital market, the winning bid being worth 950,000 euros.

According to a statement from Hidroelectrica, the contract was signed on Tuesday, May 19, and the services offered by STJ Advisors Group Limited aim at training and assistance in carrying out the Hidroelectrica IPO. The contract was awarded following a public procurement procedure in which three economic operators participated, the winning bid being worth 950,000 euro, compared to the estimated budget of 1,752,500 euro, according to Agerpres.

“Today we have a complete team of consultants to be with us in the preparation phase of the listing process of Hidroelectrica, and at the end of this stage we will contract the services of an authorized intermediary or listing consortium for the IPO. We proposed to shareholders an updated investment strategy that involves the realization of projects worth 26 billion lei by 2030. The amounts obtained from the IPO will certainly contribute to accelerating the pace of development of the company, being one of the essential sources of financing for investments that Hidroelectrica wants to initiate in the following stage. We want Hidroelectrica to be the central pillar on which the national energy system relies in the transition to clean energy, as set out in the European Green Deal,” said Hidroelectrica’s chairman, Bogdan Badea.

According to Badea, regarding the choice of the opportune moment for the Hidroelectrica’s IPO, it is to be established later, “so that the listing will bring maximum benefits to the company’s shareholders.”